They are currently over 240 crypto exchanges in the industry today and a vast majority of people have not met user satisfaction.
BBOD brings together a team of 35+ experts to tackle the problems of hacks,lack of transparency,liquidity and futures contract by building one of the most advanced trading platform.
Current Problems Of Crypto Exchanges
Crypto exchange hacks
The recent spate of hacks are alarming,exchanges have lost billions of dollars,lost customers reputation and worst still even shut down operations over hacks.
To solve the hack problem,BBOD employs a decentralized approach towards custody,users get to store their private keys themselves.
Lack of transparency
A bulk of exchange operations are not transparent,only few of them ever get audited from time to time.
At the demise of Canadian biggest exchange QuadrigaCX,we were notified that they lacked proof of solvency,in other words,the exchange was operating with deficit funds.
BBOD takes transparency seriously.
It will publish on the Ethereum blockchain the daily stat of the exchange operations: the number of registered wallets,token balances and the trades.
Expensive trading for high-frequency traders
Crypto traders get charged heavily when they engage in high frequency trades,BBOD will impose a zero-fee leveraged trading on such trades provided users trading have the BBOD tokens.
Lack of a marketplace to trade smaller coins with leverage
Smaller coins with lesser market capitalizations often experience little to no support for leverage trading,BBOD will employ its advanced technology to offer leverage altcoin trading.
Separate margin wallets for each contract
Most current contracts require distinct wallets for each contract like BTC for BTC-USD Contracts,ETH for ETH-BTC contract but this is time consuming,BBOD will enable USD-based stablecoin settlement for all its contracts offerings.
BBOD OFFERINGS
BBOD Green Trading
BBOD believes in businesses that gives back to society,it calls it “Healing Corporations”,to this end,BBOD will give almost 15% of all trading fees to the cause of either planting trees to save our planet or some other humanitarian causes.
BBOD Trading Features
Spot / Futures markets
According to the BBOD whitepaper:
BBOD offers:
● perpetual futures markets TUSD-settled, eg. BTC/TUSD.
● perpetual futures markets BBD-settled, eg. BTC/BBD (to be launched on December 10, 2019)
● spot markets BBD/TUSD, BBD/ETH, ETH/TUSD (to be launched on December 10, 2019)
● fixed-date futures markets (to be launched on Q2/2020)
These offerings will make BBOD one of the go to exchange for future contracts.
Multi assets platform
According to the BBOD whitepaper
BBOD will list both crypto futures and traditional equity, fixed income, commodity and currency futures.
In the first stage BBOD will list the following perpetual contracts on 17 cryptocurrencies: Bitcoin, Ethereum, Ripple,
EOS, NEO, Tron, Binance, Litecoin, Stellar, Cardano, IOTA, Monero, NEM, ICON, Elastos, Decred, Digibyte, all
contracts vs. TUSD
No more inverse futures (contracts entered in one currency and exited in another currency),all contracts will be based on the TUSD contact .
TOKEN UTILITY
The token will be used for a number of purposes
●Collateral: To settle trades on the BBOD futures market,the BBD token will be used as a collateral.
● Zero-Fee trading:The token will aid zero-fee trading on all futures contract settled with BBD tokens.
● Fee Discounts: Depending on the balance one have and the daily trading volume,one is certain to get fee discounts for trading . This will act as a mechanism to incentivize users to hold the token,thereby reducing the token velocity and increasing the token value.
● Rewards:To grow it user base rapidly,BBOD will employ the affiliate marketing approach,it will reward users for inviting friends to the platform and will also engage in frequent trading competitions.
BBD PRE-LISITING TOKEN OFFERING
BBOD will sell to the public 8 million BBD tokens to enable raise funds to develop the platform.
The platform has been up and running since October.
